(Source: Shutterstock.com)
Midstream water management firm WaterBridge and E&P BPX Energy entered a long-term agreement for a Delaware Basin development of new produced water capacity, WaterBridge said Jan. 21.
In the basin’s Stateline region, WaterBridge will build and operate a network capable of handling 400,000 bbl/d of produced water over the next three years, with the potential to increase capacity to 600,000 bbl/d afterward. BPX is BP’s U.S. onshore oil and gas business.
The network will support BPX’s development plans in the region. Financial terms of the agreement were not disclosed.
Houston-based WaterBridge has an affiliate relationship with LandBridge Co., which owns more than 273,000 surface acres in the Delaware Basin. LandBridge plans to build a gathering and transport system over the acreage for transport to BPX’s developments in Reeves County, Texas.
“We’re excited to expand our commercial relationship with BPX energy. Our new agreement provides enhanced and sustainable produced water handling solutions as BPX advances its development plans in the Stateline region,” said Jason Long, CEO of WaterBridge, in the press release.
Vinson & Elkins served as legal counsel to WaterBridge and Locke Lord served as legal counsel to BPX.
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